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accordance with its terms as a Contract of Sale and Purchase. 2. Within ten days after First Notice, Owner shall de- liver to Buyer to become Buyer's property upon the date of transfer of title a complete Abstract of Title to said premises to date, and in addition, all title policies, certificates of title, licenses, permits and surveys in Owner's possession_ re- lating to said premises. 3. If in the opinion of Buyer's attorneys merchantable title to said premises is not vested in fee simple in Owner free from liens and encumbrances or if zoning or restrictions. of any kind prohibit the use of said premises for industrial use, and if Buyer gives written notice to Owner within sixty days of said First Notice of any such defects or restrictions, Owner shall within thirty days of such Notice clear such defects or restrictions to the satisfaction of Buyer's attorneys, and if Owner shall fail to do so, Owner shall return the consideration for this Option to Buyer and this Agreement shall be at an end, provided, that Buyer may, within ten days after the expiration of said thirty day period, give written notice to Owner of its intention to waive any such defects and this contract shall continue in full force and effect. If in the opinion of Buyer's attorneys clear and merchant- able title to said premises is vested in fee simple in the Owner free from all liens and encumbrances and no zoning or restric- tions prohibit the use of said premises for industrial use, Buyer shall within one hundred days from the date of First No- tice give written notice to Owner of its acceptance of the title. Within ten days from said last mentioned notice or within ten days of notice by Buyer of its intention to waive any title defects as hereinbefore provided, Owner shall deliver to Buyer at Grand Islar- , Nebraska a recordable deed, - 2 -